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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: RJL who wrote (180883)7/17/2002 4:48:26 PM
From: Earlie  Read Replies (3) of 436258
 
RJL:

Just a quick perusal has already highlighted a bunch of baloney.

Revs were DOWN in darned near every segment except software, and DOWN in most jurisdictions.

They bought back $1.8 billion in stock during the quarter! Unbelievable, particularly given the low cash and massive debt. I can just see some of IBM's debt holders having a heart seizure as they peruse this meat loaf.

If Wall Street is successful in selling this mess as pretty, then my hat is off in commendation of their remarkable salesmanship.

Best, Earlie
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